Rambus (NASDAQ:RMBS) Stock Price Down 5.2%

Rambus Inc. (NASDAQ:RMBS) traded down 5.2% on Friday . The stock traded as low as $11.53 and last traded at $11.56, 717,124 shares changed hands during trading. A decline of 13% from the average session volume of 828,125 shares. The stock had previously closed at $12.19.

Several equities research analysts recently weighed in on the company. BidaskClub raised Rambus from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Zacks Investment Research raised Rambus from a “sell” rating to a “hold” rating in a report on Wednesday, June 26th. Citigroup increased their price target on Rambus from $13.10 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Wells Fargo & Co started coverage on Rambus in a report on Tuesday, May 14th. They set an “outperform” rating and a $11.35 price target for the company. Finally, ValuEngine upgraded Rambus from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $12.67.

The company has a 50-day simple moving average of $12.32 and a 200-day simple moving average of $11.36. The stock has a market cap of $1.37 billion, a PE ratio of 15.21, a PEG ratio of 1.66 and a beta of 0.70. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.59 and a quick ratio of 7.48.

Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, July 29th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.21). The business had revenue of $58.30 million during the quarter, compared to analysts’ expectations of $96.25 million. Rambus had a positive return on equity of 2.52% and a negative net margin of 35.34%. The company’s revenue was down 41.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 EPS. On average, equities analysts expect that Rambus Inc. will post 0.75 EPS for the current fiscal year.

In other Rambus news, Director Charles Kissner sold 3,723 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $12.08, for a total value of $44,973.84. Following the completion of the transaction, the director now owns 47,503 shares in the company, valued at $573,836.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Luc Seraphin sold 18,287 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $11.98, for a total value of $219,078.26. Following the completion of the transaction, the insider now owns 228,697 shares of the company’s stock, valued at approximately $2,739,790.06. The disclosure for this sale can be found here. Insiders sold 23,909 shares of company stock valued at $287,532 in the last quarter. 1.00% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Bank of America Corp DE boosted its position in shares of Rambus by 272.4% during the 4th quarter. Bank of America Corp DE now owns 165,020 shares of the semiconductor company’s stock valued at $1,265,000 after acquiring an additional 120,707 shares during the last quarter. Norges Bank acquired a new position in Rambus in the fourth quarter valued at about $13,318,000. Versant Capital Management Inc lifted its position in Rambus by 1,319.1% in the first quarter. Versant Capital Management Inc now owns 2,824 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 2,625 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in Rambus by 105.4% in the first quarter. BNP Paribas Arbitrage SA now owns 24,765 shares of the semiconductor company’s stock valued at $259,000 after buying an additional 12,710 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Rambus by 573.2% in the first quarter. Assenagon Asset Management S.A. now owns 554,217 shares of the semiconductor company’s stock valued at $5,792,000 after buying an additional 471,886 shares during the last quarter. Institutional investors and hedge funds own 77.46% of the company’s stock.

Rambus Company Profile (NASDAQ:RMBS)

Rambus Inc provides semiconductor products in the United States, Japan, Europe, Taiwan, China, South Korea, Canada, Singapore, Asia, and internationally. The company operates through three divisions: Memory and Interfaces, Rambus Security, and Emerging Solutions. The Memory and Interfaces division engages in the design, development, and manufacturing through partnerships and licensing of technology and solutions related to memory and interfaces.

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